109th CONGRESS
1st Session

H. R. 749

IN THE SENATE OF THE UNITED STATES

April 27, 2005

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

To amend the Federal Credit Union Act to provide expanded access for persons in the field of membership of a Federal credit union to money order, check cashing, and money transfer services.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Expanded Access to Financial Services Act of 2005'.

SEC. 2. CHECK CASHING AND MONEY TRANSFER SERVICES OFFERED WITHIN THE FIELD OF MEMBERSHIP.

Paragraph (12) of section 107 of the Federal Credit Union Act (12 U.S.C. 1757(12)) is amended to read as follows:

`(12) in accordance with regulations prescribed by the Board--

`(A) to sell, to persons in the field of membership, negotiable checks (including travelers checks), money orders, and other similar money transfer instruments (including international and domestic electronic fund transfers); and

`(B) to cash checks and money orders and receive international and domestic electronic fund transfers for persons in the field of membership for a fee;'.

Passed the House of Representatives April 26, 2005.

Attest:

JEFF TRANDAHL,

Clerk.

END